IndusInd Bank Q3 Profit Plunges 90% YoY Amid Soaring Provisions

• IndusInd Bank reported a net profit of ₹128 crore in Q3, significantly beating Street estimates but down 90% YoY due to elevated provisioning.
• Net Interest Income (NII) reached ₹4,561.7 crore, surpassing forecasts, yet 12.7% lower year-on-year.
• Asset quality remained stable with gross NPA ratio slightly improving to 3.56% and net NPA ratio at 1.04%.
• Provisions surged by 20.2% YoY to ₹2,095.8 crore, heavily impacting the bank's bottom line.
• Deposits and advances saw mixed trends, with deposits marginally up QoQ but down 4% YoY, and advances lower than the previous year.

Why It Matters: IndusInd Bank's Q3 profit fell sharply due to high provisions, despite stable asset quality and strong NII.